With So Many Working From Home, How Many Will Stay There?

Today’s News Synopsis:

It’s the end of the office as we know it.  New home purchase mortgage applications increased by 21.2% for the month of March.  How are American’s planning on spending their coronavirus relief checks?

In The News:

HousingWire “Reverse mortgages get second look amid coronavirus chaos” (4-14-2020)

“At a time when the stock market is behaving like an oscilloscope and 401(k)s are shrinking away, reverse mortgages have sparked a renewed level of attention as a potential source of stability amid an economic maelstrom.”

Realtor.com “What Is a Force Majeure Clause, and What Does It Mean for Mortgages?” (4-14-2020)

“In French, it means superior force. However, in legalese, the term force majeure refers to a clause that can allow a person or business to extricate themselves from a contract.”

Mortgage Bankers Association “March New Home Purchase Mortgage Applications Increased 21.2 Percent” (4-14-2020)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for March 2020 shows mortgage applications for new home purchases increased 21.2 percent compared from a year ago.”

CNBC “Here’s how Americans plan to spend their coronavirus relief checks” (4-14-2020)

“The federal government has begun depositing the first round of coronavirus relief payments promised as part of the $2.2 trillion stimulus program.”

National Association of Realtors “Coronavirus: Quick Reference Guide on Health Insurance Coverage” (4-14-2020)

“According to NAR research, nearly two-thirds of NAR’s membership obtain their health coverage through a spouse’s employer-sponsored health plan, Medicare, or a health plan purchased in the Affordable Care Act’s “individual” market. Ten to fifteen percent, however, remain uninsured.”

California Association of Realtors “Local Ordinances” (4-14-2020)

“IMPORTANT: To assure compliance, local and county as well as state restrictions must be checked. Local and county restrictions on real estate services may be more restrictive than the state rules.”

Vox “This is the end of the office as we know it” (4-9-2020)

“The pandemic already pushed millions to work from home. Many of them will likely go back to a very different office.”

National Association of Realtors “Fair Housing Book Recommendations” (4-14-2020)

“Residential segregation in America didn’t happen by accident. Americans of different races live apart because of deliberate actions by public and private actors.”


California Real Estate Investor Events

ALERT: Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Pasadena FIBI on Thursday, April 16 (ONLINE ONLY).

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.

Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.


Looking Back:

Forget the dream wedding.  T360 released their latest data on MLS and Realtor Association rankings, this time involving brokerages, franchisors, and holding companies.  The NAHB reported builder sentiment increased this month by one point and stood at 63.


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